In the last trading session, 81.75 million Rivian Automotive Inc (NASDAQ:RIVN) shares changed hands as the company’s beta touched 1.91. With the company’s per share price at $8.40 changed hands at -$0.73 or -8.00% during last session, the market valuation stood at $8.21B. RIVN’s last price was a discount, traded about -234.05% off its 52-week high of $28.06. The share price had its 52-week low at $9.08, which suggests the last value was -8.1% down since then. When we look at Rivian Automotive Inc’s average trading volume, we note the 3-month average coming to 45.25 million.
Rivian Automotive Inc (NASDAQ:RIVN) trade information
Instantly RIVN was in red as seen at the end of in last trading. With action -19.54%, the performance over the past five days has been red. The drop to weekly highs of 10.69 subtracted -8.00% to the stock’s daily price. The company’s shares are showing year-to-date downside of -64.19%, with the 5-day performance at -19.54% in the red. However, in the 30-day time frame, Rivian Automotive Inc (NASDAQ:RIVN) is -21.42% down.
Rivian Automotive Inc (RIVN) estimates and forecasts
Data shows that the Rivian Automotive Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -56.54% over the past 6 months, a 19.26% in annual growth rate that is considerably higher than the industry average of 11.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Rivian Automotive Inc will rise 8.00%, while the growth in revenue is estimated to hit -2.80% for the next quarter. Year-over-year growth is forecast to reach 9.10% up from the last financial year.
Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $1.15 billion. 17 analysts are of the opinion that Rivian Automotive Inc’s revenue for the quarter ending Jun 2024 will be $964.08 million. The company’s revenue for the corresponding quarters a year ago was $661 million and $1 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 74.40%. The estimates for the next quarter sales put growth at -3.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -86.59%. The 2024 estimates are for Rivian Automotive Inc earnings to increase by 14.00%.
RIVN Dividends
Rivian Automotive Inc is expected to release its next quarterly earnings report in May.
